PathoGenetiX Raises $4.0M in First Closing of $9.5M Series B Financing

PathoGenetiX Inc., a Woburn, Massachusetts-based developer of an automated system for the rapid identification of pathogenic bacterial strains using proprietary Genome Sequence Scanning Technology, has raised $4.0m in the first closing of its $9.5m Series B financing.

The round was led by Excel Venture Management, with participation from CB Health Ventures, HealthCare Ventures, and other investors.

The company intends to use the funds to complete development of its first commercial systems, planned to be introduced in 2012. Its Genome Sequence Scanning technology GSS platform has applications

PathoGenetiX’s Genome Sequence Scanning technology, which can simultaneously identify thousands of bacterial strains in a single test in three hours, holds great potential for a wide range of applications, including genomics research, food and product safety testing, and clinical infectious disease diagnostics.